CBK Gives Green Light for Access Bank Kenya’s Transfer to NBK

Access Bank Kenya Plc is set for a major change after the Central Bank of Kenya (CBK) approved the transfer of its assets and liabilities to National Bank of Kenya Limited (NBK).

The regulator announced the development on Wednesday, September 23, 2026, after approving the transaction on August 17, 2026, under Section 13 (4) of the Banking Act.

The Cabinet Secretary for the National Treasury and Economic Planning then approved the transaction on September 21, 2026, under Section 9 (1) of the Banking Act.

“The Central Bank of Kenya (CBK) announces the transfer of all assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK). This follows the approval by CBK on August 17, 2026, under Section 13 (4) of the Banking Act and approval by the Cabinet Secretary for the National Treasury and Economic Planning on September 21, 2026, pursuant to Section 9 (1) of the Banking Act,” CBK stated.

Access Bank Transfer of Assets and Liabilities to NBK

Under the approved transaction, NBK will take over all assets and liabilities belonging to Access Bank Kenya. However, CBK clarified that the transfer will not take effect immediately following the announcement.

Instead, Access Bank Kenya and NBK must first complete the transaction according to the terms set out in their Business and Assets Transfer Agreement.

“The transfer shall take effect upon completion of the transaction in accordance with the terms of the Business and Assets Transfer Agreement between the parties,” the regulator said.

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Over the years, NBK has undergone several ownership changes since it began operations after its incorporation in 1968 as a wholly owned government entity, with the objective of helping Kenyans access credit and supporting economic control after independence.

Later, KCB Group Plc acquired 100% of NBK’s shareholding in September 2019. Access Bank PLC subsequently acquired 100% of NBK’s issued share capital from KCB Group Plc in May 2025.

How Access Bank Entered Kenya

Meanwhile, Access Bank PLC entered the Kenyan market in February 2020 after acquiring 100% of the issued share capital of Transnational Bank Plc.

The institution was subsequently renamed Access Bank (Kenya) Plc.

Transnational Bank had commenced operations in December 1985, while Access Bank PLC was incorporated in February 1989. The Nigerian banking group operates as a wholly owned subsidiary of Access Holdings PLC.

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Across the continent, Access Bank PLC has subsidiaries in Botswana, Cameroon, the Democratic Republic of Congo, Gambia, Ghana, Guinea, Kenya, Mozambique, Nigeria, Rwanda, Sierra Leone, South Africa and Zambia.

The group also operates a subsidiary in the United Kingdom, representative offices in China, India and Lebanon, and a branch in the United Arab Emirates.

CBK Explains Transfer

The regulator said the transaction will help maintain stability in Kenya’s banking sector while strengthening its resilience and promoting competition.

“CBK welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector and promote competition,” it stated.

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CBK Governor Kamau Thugge appears before the parliamentary committee at Bunge Towers on July 30 to address concerns over CBK’s proposed banking fees. PHOTO/ Parliament of Kenya Facebook